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Level 2
December 7, 2019
Solved

By filing an extension for S corp does it affect a 1031 transaction? Does it make it taxable?

  • December 7, 2019
  • 5 replies
  • 23 views

Client is out of town and would like to file an extension for S corp, but worried if his 1031 transaction that was completed in 2018 will be taxable if it is not filed by 3/15.

Any help is appreciated

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Best answer by IRonMaN

I don’t think filing an extension is going to change th taxability of a tansaction done during    the year.

5 replies

IRonMaN
IRonMaNAnswer
Level 15
December 7, 2019

I don’t think filing an extension is going to change th taxability of a tansaction done during    the year.

Slava Ukraini!
Just-Lisa-Now-
Intuit Community Champion
December 7, 2019
@Nile why would you think it might make a difference?  I'm more curious as to the thought process behind this idea.
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